Franchising Old Navy stores is a key step in the company’s international expansion as it works to grow its share of the global retail apparel market.
Gap Inc. will partner with Stores Specialists, Inc., which operates Gap brand and Banana Republic stores in-market, to open two Old Navy locations in the beginning of 2014 with plans to open additional stores by the end of the same fiscal year.
“With a steadily growing retail market, the Philippines represents a great opportunity for Old Navy and an important step in the brand’s international expansion,” said Sonia Syngal, Senior Vice President of Old Navy International. “Consumers have a great interest in the iconic American brand Old Navy, and we look forward to making current American fashion essentials accessible for every family.”
Old Navy stores will feature the same energizing store environment that the brand has become known for in the United States and will offer men’s, women’s, kid’s and baby apparel and accessories.
“We’re thrilled to be the first franchisee for Old Navy and help introduce one of the largest apparel brands to consumers in the Philippines,” said Anthony Huang, Executive Vice President, Stores Specialists, Inc. “As the country’s retail market continues to grow, we look forward to sharing our local expertise with Gap Inc. to help the company grow its presence.”
Old Navy currently operates over 1,000 stores in the U.S., Canada and Japan and recently announced plans to open stores in China in the first half of 2014.
About Old Navy
Old Navy is a global apparel and accessories brand that makes current American essentials accessible to every family. Originated in 1994, the brand has now grown to one of the largest apparel retailers in North America. A division of San Francisco-based Gap Inc., Old Navy brings a fun, energizing shopping environment to its customers in more than 1,000 stores in the U.S., Canada and Japan.
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